Reference is made to the earlier announcements dated 14 and 21 June 2023 in respect of the JVA entered into between SEB and NS Corporation (“the Announcements”). Unless otherwise stated, all abbreviations used herein shall have the same meaning as defined in the Announcements.

The Board of Directors of SEB wishes to update that the respective prescribed timeline for the fulfilment/compliance of the Conditions Subsequent stipulated in Clauses 6A(a)(1), 6A(a)(2) and 6A(a)(3) of the JVA (“the subject Conditions Subsequent") has expired. Both SEB and NS Corporation have mutually agreed to an extension of time up until 13 January 2024 (“EOT”) to obtain the Conditions Subsequent.

Following the EOT, the prescribed timeline for the fulfilment/compliance of the Conditions Subsequent stipulated in Clause 6A(a)(3A) to Clause 6A(a)(7) of the JVA which are dependent on the fulfilment/compliance of the subject Conditions Subsequent will consequently be extended.

This announcement is dated 01 November 2023.